Ojai Oil Company (OTCPink: OJOC.PK) reported total revenues from operations and partnerships for the year ended December 31, 2011 increased 6.2% to $5.74 million, compared to total revenues from operations and partnerships of $5.41 million for 2010. Revenues in 2011 primarily benefited from higher sales and royalties from its oil operations.
Net income for 2011 increased 20.6% to $1.36 million or $4.66 per share, versus net income of $1.13 million or $3.86 per share for 2010. The increase in net income was primarily the result of a 50.3% increase in income from the company’s oil operations.
As of December 31, 2011, the balance sheet reflected current assets of $3.48 million (including cash & cash equivalents of 1.87 million and other short-term and marketable security investments of $1.55 million), total assets of $19.01 million, current liabilities of $1.89 million and total liabilities of $6.62 million.
Ojai Oil Company is engaged in the production and sale of oil and gas, deriving income from oil royalties and the operation and management of self storage facilities and a commercial office building. The company also engages in real estate partnerships that operate self storage facilities and communication towers.
Source: Ojai Oil Company